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Stuck in the mud but traders eyeing 12,000 in DJIA!

Traders’ hedging their bets going into tonight’s Presidential address and tomorrow’s FOMC meeting created a late surge in the SP EMINI offsetting disappointing earnings, overnight news out of the UK and overnight weakness in commodity prices. The trading day started in the hole when commodity prices fell with metals and energy weighing on the sector. Also weighing on the SP EMINI last night,  U.K. data showed that the economy across the pond was contracting at a rate not seen since 2009. Disappointing earnings from notables like 3M, JNJ and American Express weighed on stocks. 


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